Current Use by Public Records
- Lifestyle centers
Property Details for 6611-6621 Broadway Ave
- Year built
- 2016
- Lot size
- 2.63 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional Class A retail property, Red Barn Square, is for sale. Located at 6611-6621 S Broadway Ave, Tyler, TX 75703, this 9,545 square foot center boasts a prime location in a high-traffic area, shadow-anchored by a Walmart Supercenter. Built in 2016 on a 2.63-acre lot, the property features two buildings and is 100% occupied by four credit-rated franchise tenants: Bahama Bucks, Great Harvest Bread, Zaza Thai, and Mikoto. All tenants are food and beverage establishments, offering a diverse mix of dining options. Bahama Bucks benefits from a convenient drive-through. The property features triple net (NNN) leases, providing a stable income stream. With a stabilized investment type, a 6.86% cap rate, and a net operating income (NOI) of $274,341, this is a compelling opportunity for investors seeking a strong, multi-tenant retail investment. The property enjoys excellent visibility and access, situated on S Broadway Ave, which sees over 46,059 vehicles daily. Ample parking is available. The surrounding area is densely populated, with a significant concentration of retail, schools, and residential units. This property is poised for long-term value retention due to continued growth in the area. The asking price is $4,000,000, with a price per square foot of $419.07.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tyler
- County
- Smith
- State
- Texas
- Longitude
- -95.3069
- Latitude
- 32.2771
